As cognitive functions deteriorate in older age, households face an increased risk of wealth loss, which may vary depending on retirement income sources and pension arrangements. Using harmonized data from the United States, England, and several European countries, this chapter examines the relationship between financial wealth in later life and cognitive functioning across countries, with a particular focus on the moderating role of pension systems. Our analysis explores how differences in pension structures, particularly the extent to which they shift investment responsibility to individuals, may affect financial well-being amid cognitive decline. We find that individuals in the US experience the largest decline in wealth following the onset of cognitive decline, compared to individuals from other countries. We argue that this phenomenon is largely driven by the structure of retirement funding in the US, which requires individuals to make more complex decisions about the decumulation of retirement assets. Our findings inform policies aimed at enhancing financial autonomy and decision-making among the aging population.